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01-18-2011, 01:50 PM #1
Condominium
- Join Date
- Dec 2010
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- 71 South Orange Ave, Suite 203, South Orange, New Jersey
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Fixture and it's issues
A very common question among buyers and tenants goes like this:
"When we visited the house, 'Item X' was there. But when we moved in, it was taken away by the owner. Is it legal?"
Issues like these are solved under the law called "Law of fixtures". For those of you who are new to this, fixtures are Personal* properties that are fixed or firmly attached with the Real Property. It is also known as "chattel". Some examples might be trees, Car wash equipments, counters and cabinets etc.
When buying or renting a property, people often face issues about fixtures. Whether the house was from a broker or an OOP (Owner Occupied Property), these issues may arise.
Have you ever faced an issue like this? if so, how did you resolve it? How should agents and buyers go about it? Share with us.
*There are two types of property subjected to tax. One of them is "Real Property" and the other is called "Personal Property". A Real Property is generally referred to the land and and anything permanently attached to the land such as improvements. Common examples of Real Property are barn, motels, houses, gas stations etc.Last edited by MikeAustin; 01-18-2011 at 02:16 PM.
Mike Austin
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Business Builders New Jersey
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